Aquarius Platinum (AQP)

Deutsche Bank says despite multiple challenges facing
Aquarius Platinum
, it still sees value in the company and has maintained its “buy" recommendation.

The outlook for the company’s growth asset, Everest, is much more muted in the near term, with its contractor mining model under question and the Zimbabwean indigenisation process along with further potential taxes remaining an overhang.

Still the broker says the company’s balance sheet is strong and management has shown a willingness to cut unprofitable ounces. Further, a relatively low capex requirement should allow it to ride out the storm.